WB reviews IDP economic development support project in Azerbaijan
Azerbaijan, Baku, Nov. 8 /Trend, N.Ismayilova /
The World Bank mission headed by Johanna de Bere started visiting Baku on Nov. 8 to review the IDP Economic Development Support Project (IDP EDSP), the WB Baku office reported.
According to information, the mission will stay in Baku by Nov. 13.
The cost of the project's first phase is $12.6 million, of which $11.5 million will be allocated by the WB. Contrary to practice, project funds were introduced a year earlier, but the realization of 50 (of 200) infrastructure micro-projects were not completed due to inflationary processes. Their implementation demanded additional funds. Only $24.19 million was allocated to finish the project, of which 9.6 million SDR ($ 15 million) fell to the WB, and $8.69 million (including VAT at $3.69 million) to the government.
Under the project, 108,000 IDPs will receive benefits. Upon Azerbaijan's request, the WB has agreed to reduce the proportion of community participation in micro projects to three percent.
The WB allocated a total of three credits to support Azerbaijani IDPs. The WB allocated the first loan worth $10 million in 2001. These funds financed 192 micro-projects for infrastructure rehabilitation in areas where IDPs live. Roughly 170,000 received benefit from the project.
In 2009, 1,700 families (6,500 IDP) were provided with housing in new settlements in Azerbaijan. Given the priority of tackling IDP problems, funding for these activities will continue in 2010 despite the global crisis. In the future it is planned to resettle another 612 families (2,500 persons) at the expense of the State Oil Fund (SOFAZ).